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Top 5 1st Quarter Trades of Jackson Square Partners, LLC

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May 16, 2022
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Jackson Square Partners, LLC recently filed their 13F report for the first quarter of 2022, which ended on 2022-03-31.

The 13F report details which stocks were in a guru’s equity portfolio at the end of the quarter, though investors should note that these filings are limited in scope, containing only a snapshot of long positions in U.S.-listed stocks and American depository receipts as of the quarter’s end. They are not required to include international holdings, short positions or other types of investments. Still, even this limited filing can provide valuable information.

Jackson Square Partners is a private investment manager that was founded in 2013 and is based out of San Francisco. The company was formed out of a joint venture between Delaware Investments and the company’s San Francisco based Focus Growth team. Jackson Square Partners was officially established in early 2014 and is jointly owned by the Focus Growth team and Delaware Investments. The idea for the joint venture came out of a need for both groups to be able to work towards achieving their “long-term business objectives while continuing to deliver the high level of service clients expect,” marking a strategic evolution in the relationship between Delaware Investments and the Focus Growth team. The Focus Growth team was originally created in 2005 to address the core philosophy of “identifying and nurturing exceptional investment talent” and “combining that talent with a strong operating platform and our focus on putting client needs first.” Delaware Investments has decided that, although the Focus Growth team has grown significantly since its inception and produced good results for its managed assets, it is reaching its full capacity and now must restructure its business to cope with the new stage. Jackson Square Partners would serve as the structure for both groups to be able to funnel new expansions into and be able to provide new opportunities to its clients. When the company was formed, approximately $17 billion in institutional assets was moved to Jackson Square Partners with the intent that the company would sub-advise Delaware Investment’s mutual funds and other pooled vehicles as well as manage accounts currently held by the Focus Growth team. As of 2014, the newly formed Jackson Square Partners held over $24 billion in total assets under management and is expected to experience fast growth. Currently, the company focuses its investments in the services and technology sectors, which along makes up over half of its total assets.

As of the latest 13F report, the guru’s equity portfolio contained 95 stocks valued at a total of $10,073,000,000. The top holdings were MSFT(5.24%), NYT(5.08%), and WIX(3.77%).

According to GuruFocus data, these were Jackson Square Partners, LLC’s top five trades of the quarter.

Westinghouse Air Brake Technologies Corp


The guru established a new position worth 2,147,227 shares in NYSE:WAB, giving the stock a 2.05% weight in the equity portfolio. Shares traded for an average price of $92.74 during the quarter.

On 05/16/2022, Westinghouse Air Brake Technologies Corp traded for a price of $86.79 per share and a market cap of $15,851,990,000. The stock has returned 10.49% over the past year.

GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 8 out of 10.

In terms of valuation, Westinghouse Air Brake Technologies Corp has a price-earnings ratio of 27.38, a price-book ratio of 1.58, a price-earnings-to-growth (PEG) ratio of 5.59, a EV-to-Ebitda ratio of 13.57 and a price-sales ratio of 2.05.

The price-to-GF Value ratio is 1.20, earning the stock a GF Value rank of 3.

Lyft Inc


Jackson Square Partners, LLC reduced their investment in NAS:LYFT by 5,165,451 shares. The trade had a 1.85% impact on the equity portfolio. During the quarter, the stock traded for an average price of $39.22.

On 05/16/2022, Lyft Inc traded for a price of $20 per share and a market cap of $6,959,643,000. The stock has returned -56.54% over the past year.

GuruFocus gives the company a financial strength rating of 4 out of 10 and a profitability rating of 3 out of 10.

In terms of valuation, Lyft Inc has a price-book ratio of 6.02, a EV-to-Ebitda ratio of -9.10 and a price-sales ratio of 1.96.

The price-to-GF Value ratio is 0.66, earning the stock a GF Value rank of 8.

Nevro Corp


The guru sold out of their 2,443,095-share investment in NYSE:NVRO. Previously, the stock had a 1.66% weight in the equity portfolio. Shares traded for an average price of $72.3 during the quarter.

On 05/16/2022, Nevro Corp traded for a price of $47.35 per share and a market cap of $1,669,593,000. The stock has returned -67.44% over the past year.

GuruFocus gives the company a financial strength rating of 6 out of 10 and a profitability rating of 3 out of 10.

In terms of valuation, Nevro Corp has a price-book ratio of 6.90, a EV-to-Ebitda ratio of -13.84 and a price-sales ratio of 4.28.

The price-to-GF Value ratio is 0.44, earning the stock a GF Value rank of 4.

Azenta Inc


During the quarter, Jackson Square Partners, LLC bought 1,927,276 shares of NAS:AZTA for a total holding of 2,211,229. The trade had a 1.59% impact on the equity portfolio. During the quarter, the stock traded for an average price of $85.85.

On 05/16/2022, Azenta Inc traded for a price of $75.12 per share and a market cap of $5,632,770,000. The stock has returned -15.81% over the past year.

GuruFocus gives the company a financial strength rating of 8 out of 10 and a profitability rating of 5 out of 10.

In terms of valuation, Azenta Inc has a price-earnings ratio of 2.54, a price-book ratio of 1.62, a EV-to-Ebitda ratio of -43.03 and a price-sales ratio of 21.43.

The price-to-GF Value ratio is 0.70, earning the stock a GF Value rank of 8.

Wix.com Ltd


During the quarter, Jackson Square Partners, LLC bought 1,299,444 shares of NAS:WIX for a total holding of 3,631,516. The trade had a 1.35% impact on the equity portfolio. During the quarter, the stock traded for an average price of $109.24.

On 05/16/2022, Wix.com Ltd traded for a price of $71.19 per share and a market cap of $4,090,777,000. The stock has returned -67.93% over the past year.

GuruFocus gives the company a financial strength rating of 4 out of 10 and a profitability rating of 3 out of 10.

In terms of valuation, Wix.com Ltd has a price-book ratio of 27.97, a EV-to-Ebitda ratio of -132.00 and a price-sales ratio of 3.34.

The price-to-GF Value ratio is 0.29, earning the stock a GF Value rank of 2.


Please note, the numbers and facts quoted are as of the writing of this article and may not factor in the latest trading data or company announcements.

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